Prototype plan

A qualified retirement plan sponsored by a financial institution. It may be adopted by executing a written agreement. A prototype is generally more flexible than the IRS Form 5305 or 5305-A and may have additional special features. Also called a master pension plan.

Master Pension Plan

A retirement plan designed by a bank or other financial institution. When creating or updating employee benefits for a company, an employer may look at a master pension plan and adapt it to the company's individual needs. It is also called a prototype plan.

单词	prototype plan
释义	Prototype plan Prototype plan A qualified retirement plan sponsored by a financial institution. It may be adopted by executing a written agreement. A prototype is generally more flexible than the IRS Form 5305 or 5305-A and may have additional special features. Also called a master pension plan. Master Pension Plan A retirement plan designed by a bank or other financial institution. When creating or updating employee benefits for a company, an employer may look at a master pension plan and adapt it to the company's individual needs. It is also called a prototype plan.
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